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How to Stop Trading Pocrastination – 8 WaysIf you find it hard to press the trigger, you may be suffering with… Trading procrastination. This is definitely a major hurdle with trading well. The good news is that, this is a temporary problem that you can fix today. With the right strategies and mindset, you can overcome this challenge. I have a few ways you can stop procrastinating. #1: Choose Your Trading Days One of the first steps is to get your schedule right. If you’re trading stocks, indices, forex, commodities or crypto – choose the days you want to trade each one. First you’ll need to analyse the markets and your watchlist. Write down the trades that are most likely going to line up. And then, you’ll be able to condition your mind to prepare for trading on designated days. This will take away the analyses paralyses and overwhelming effect of looking at too many markets at once. #2: Set Smaller Tasks When you have gone through your watchlists on your charting platform. Plot all the potential entries and exits and write down notes on what you will be trading. This will help you remind you what you’ll need to take action with. #3: Track Results on a Specific Day You don’t have to review and track your performance everyday. Trading is a medium to long term approach. So, maybe choose a Friday or Saturday to go through your track record and see how you performed or are performing. It will also tell you which trades are working in your favour or whether you’re in a drawdown or not. A regular check-up with your performance, can serve as a powerful deterrent to procrastination. #4: Remove Distractions You need to create a calm and serene environment when you trade. Clear your desk, close your tabs, switch off your TV. Create laser focus and it’ll help you be more inclined to act on what needs to be done. If you lower the interruptions, your productivity and alertness will also pick up. #5: Self-Talk Trading is a mindset game. Sometimes, you need to have a few conversations with yourself. And there needs to be positive reinforcement and self-talk to overcome procrastination. Say things like: ~ This is a high probability trade lined up according to my strategy – I need to just take the trade. ~ I only have 2% of my portfolio to lose – so I am prepared. ~ The trading portfolio is not going to grow by itself – I need to act. Train your mind to recognize negative thoughts and replace them with affirmations that boost your confidence and belief in your trading abilities. Build a strong self-belief system with strong action points and it will help you tackle challenging trading situations head-on. #6: Reward Yourself If a trade lined up and you get in – reward yourself. If you took your take profit according to your strategy – reward yourself. If you stuck with your guns and took the loss according to your system – reward yourself. If you need to adjust a trade according to your rules – reward yourself. Go for a walk, grab a drink, make a meal, smoke a cigar or whatever you enjoy. You need to celebrate the small things to help with your trading accomplishments. Set up a reward system to recognize your efforts and achievements. This will motivate you to stay on track and keep going. #7: Visualize Success If you have your trading plan and strategy in place, you have the game-plan. Close your eyes and envision when the days are good and when your portfolio heads up to all time highs. Visualizing successful trading outcomes can be a powerful motivator. Embrace the feeling of achievement and success, as this mental rehearsal which can positively impact your actual trading performance. #8: Learn from Mistakes When you learn something new from trading. Jot it down with strong lessons to apply in the future. Also, analyse your past mistakes and use them as stepping stones toward improvement. Adopt a growth mindset to help empower you to make proactive decisions and drive your trading progress forward. FINAL WORDS: You can conquer procrastination, one step at a time. Take action. Stay consistent. Attain and measure attainable goals. Never give up. Let’s sum up the actions you can take to stop procrastinating. #1: Choose Your Trading Days #2: Set Smaller Tasks #3: Track Results on a Specific Day #4: Remove Distractions #5: Self-Talk #6: Reward Yourself #7: Visualize Success #8: Learn from Mistakes If this resonated with you let me know :)
JSE:J200Education
by Timonrosso
Things to keep in mind when trading altcoins in the bull marketHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- If an altcoin bull market, or bull market, begins, it is very likely that you will eventually make a profit no matter how you buy. However, if you ride an altcoin that is rising right now, it may take time until it is converted into profit. Accordingly, when a bull market begins, buying in installments when the candles on the 1D chart are down candles rather than through breakout trading will allow you to make profits more quickly, and you will also be able to wait for large profits more comfortably. The above is a basic buying method that does not require chart analysis, so it would be good to obtain stable profits through additional trading strategies. Although it is the best way to earn large profits by investing all your investment in one coin (token), it is not recommended because the risk is high. However, if you purchase too many altcoins at once, you may not be able to respond when rapid volatility occurs, so it is recommended to trade within the range you can respond to. Also, if you buy once and then sell 100% as the price rises, you may end up incurring a large loss by buying at the high point, so in a bull market, it is better to leave coins (tokens) equivalent to a certain amount of profit rather than selling 100%. This is because the average purchase price of altcoins with only the remaining coins (tokens) corresponding to profits is 0, so there is no significant burden when purchasing additional coins. Therefore, if you sold 100%, you must skip one wave. You should be careful not to switch to another altcoin just because the altcoin you purchased is not rising, as you may miss another opportunity in the bull market. (ETHUSDT chart) (1M charts) When BTC began its full-fledged upward trend, we marked the section where we thought ETH would rise. (1D chart) ETH, like BTC, is a coin that can show independent flows. Accordingly, it is distinguished from general altcoins. ETH's rapid volatility could temporarily dominate the coin market, which is likely to lead to an additional uptrend in altcoins. However, since such movements are shorter than expected, caution is required as the trend of the coin market may change depending on BTC price movements. It has been falling since rising above 2104.60 on November 9th. This decline shows that it has fallen to the area corresponding to the previous high point. Accordingly, you should observe whether there is a possibility of sideways or upward movement around the current price. Checking whether you receive support or resistance at support and resistance points is very tedious and difficult, but it is a must-do task as it is important in creating or modifying your trading strategy in the future. If it falls from the current range, it is expected to fall near the bottom of the box range of 1923.03-2104.60. However, if it does not fall below 1879.61, it is expected to create a pull back pattern, so we need to think about ways to respond. Since it appears to be trying to create a pull back pattern before BTC, it is expected that after BTC moves, ETH will take the lead and move the coin market for a while. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
by readCrypto
Why you Are a Mass Procrastinator – 7 ReasonsAre you stuck in a trading rut? Have you thought to yourself. You have all the knowledge, tools, skills, strategies etc… And yet you don’t believe you’re getting the trading results you expected? I think it’s because of the ‘Procrastination Gremlin”. It’s a common issue. For three years during my trading career I was a mass procrastinator. I never took trades when they lined up. I never deposited more money to grow my account. I never tracked and reviewed my trades on a weekly basis. It became a disease as well as a comfort zone. But what you might realise is when you LEAVE that comfort zone of procrastination, you might find it was never comfortable to begin with. It slowed down your growth and progress as a trader. So if you can relate to some of the things I’ve mentioned already, this article is for you. Let’s explore if you’re a mass procrastinator. You Doubt Trades One of the most common forms of procrastination is when you doubt taking trades. You hesitate and find every excuse to not trade for the day. The problem is this. Doubt slows down your decision-making process, and causes missed opportunities. If you have a winning and proven system and you have money you can afford to trade with great money management principles. Just Take The Trade! Skip Trades Ahhh, I’ll skip this trade and take the next. Skipping trades is another form of procrastination. What are you waiting for? The “perfect” trading setup, the right “timing”, the right gut (gat) feel? Stop skipping. Remember, in trading, there’s no perfect moment. You are bound to take trades with losses. So if you’ve incorporated them into your trading, why are you skipping the trades? Worst case scenario, you take a small loss. Best case scenario, you ban a whopper of a winner. Listen… Consistency and resilience are what brings success. Stop skipping trades when they line up. J.T.T.T Skip Days I get this. Monday is a storm of a day after the weekend. Friday is a calm day to prepare for the weekend. That’s what I’ve gathered over the years. But it doesn’t mean I skip trades. If they line up (Monday or Friday or any other day, just take it). Successful trading requires regular market analysis and being persistent with your trading. Stick to a routine, check the markets and try not to skip days. Forget Tracking If you also forget to track your trades, this is another sign of procrastination. Tracking helps you analyse your performance, learn from your mistakes, and make informed decisions. Every time you take a trade, plot it in your journal. At the end of the week, go through the journal to see how your trades are looking. Go through the open trades, to see how they’re performing. Also maybe see if you need to make any adjustments. Don’t neglect this crucial task. Forget Setups You might have written your trading setups for the week. And then you don’t take them. You’re procrastinating your success. Be more accountable and responsible with the trades that are lining up. Write it on sticky notes. Put them on your fridge. Set alerts on your trading and charting platform. Set reminders on your phone! Do whatever you need to to NOT forget the setups that are nearly ripe for the picking. Neglect Self-Education and adaptation As I’ve said often. Trading is an adapting and ever-evolving game. You need to: ~ Keep learning and revising ~ Be up to date with new markets ~ Adapt your strategies ~ Add or remove from your watchlists ~ Update yourself as a trader Procrastinating on Diversification If you’re only trading one type of asset, you might be in trouble. You’re delaying portfolio diversification. There are so many new stocks to apply. There are new algorithms with indices, commodities, Forex and Crypto. If they work with your system, diversify and hedge. Don’t be a dinosaur and stick to what was instead of what there is! Start researching other asset classes today. Final words: You’re your own worst enemy with trading. Not any trader, analyst, company… You. You need to stop procrastinating and start doing. Only then you’ll see improvement, development and even mindset growth. Let’s sum up potential reasons why you might be a mass procrastinator. You Doubt Trades Skip Trades Skip Days Forget Tracking Forget Setups Neglect Self-Education and adaptation Procrastinating on Diversification
TVC:SA40Education
by Timonrosso
Chart analysis and trading strategy are differentHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (BTCUSDT 1D chart) The key is whether it can receive support around 36426.87 and rise to the first resistance zone. This period of volatility will be around November 16 (November 15-17). If it fails to rise above 36426.87, it is important to see whether support can be found around 32917.17-34110.32. In order for this upward trend to be maintained, the price must be maintained above 29850.45. If you have analyzed the chart with the above information, the important question is how to start trading, that is, how to create a trading strategy. First, I decided that I could start buying when I saw support at a certain point or section through chart analysis, but I realized that I had to make several more decisions to actually buy. 1. Should I buy it in installments? If I buy it in installments, how many installments will I buy it in? 2. How much investment should be made when purchasing? 3. How to set the investment period between day trading and long-term trading. 4. When starting a transaction, how will you decide on a trading method, such as a stop-loss point or target point, and how will you realize profits? As in the example above, in order to make a transaction, you need to think about and decide on many things. However, when the chart analysis is completed and the time to buy comes, buy with a rough investment amount, roughly think about the stop-loss point and target point, and start trading. And then, if the chart moves as expected, it's good, but if it doesn't, then you have to worry about the above. Then, I think that because your thoughts are influenced by price fluctuations, you end up trading in the wrong direction, increasing the chances of your trading failing. Therefore, you must have some basic understanding of trading strategy to be able to trade quickly. The concept of a basic trading strategy can be customized to suit you using the example below. 1. The purchase principal, purchase method, selling method, stop-loss point determination method, and profit realization method must be standardized for each investment period. Therefore, the basic concept of investment period from day trading to long-term trading must be determined in advance. However, since each coin (token) responds differently, it is not easy to divide them accurately. Therefore, you must first consider the size of the purchase principal and stop loss point for each investment period. 2. Trading must ultimately proceed with a contrarian approach. Therefore, you should not proceed with trading by thinking the way you normally think. Therefore, when the price rises, you must choose a point to sell, and when the price falls, you must choose a point to buy. However, if you are new to trading, you want to buy when the price is rising and sell when the price is falling. Since trading requires such a change in thinking, it is not easy to get used to it. Therefore, it is necessary to take time to become familiar with trading by making many transactions with small investments until this change in thinking occurs naturally. 3. Trading is a psychological battle. Therefore, if you start trading psychologically, you will feel psychologically anxious and burdened, and there is a high possibility that you will proceed with trading in the wrong direction. Therefore, when you are about to start trading, you need to determine what your psychological state is like. If you are judged to be psychologically excited, that is, anxious, you should not start trading. Even if you start trading once or twice and make a profit, if you continue to trade while you are in a psychologically anxious or excited state, you will end up incurring large losses. 4. Additionally, trading is a game of probability. Therefore, you must select a trend by combining various information obtained through chart analysis. Therefore, the information obtained from chart analysis must contain a lot of objective information. The analysis techniques that you study, such as wave theory or other patterns, ultimately have no choice but to be applied to your own psychology. Therefore, rather than such information, you should start trading by selecting a higher direction or trend by combining the basic information obtained by using the chart indicators, that is, objective information. There are a ton of chart analysis techniques out there. However, I think that analysis techniques that have a selection point that you must choose are essentially useless if you are not prepared for the three psychological warfare mentioned above because it is highly likely that your psychology will be applied in the end. Looking at the ideas currently published on TradingView, there seem to be a lot of wave theory and harmonic pattern analysis techniques. These analysis techniques are excellent analysis techniques and have been proven by many users. However, if you do not have a trading strategy like the one I mentioned earlier, you have no choice but to analyze charts and conduct other transactions. Therefore, before studying various chart analysis techniques, you must first study the concepts of candles, moving averages, support and resistance. Then you need to practice creating a trading strategy. Once you are able to create a trading strategy to some extent, I think it would be a good idea to study various high-level chart analysis techniques. In fact, if you can create a trading strategy, there is no need for advanced chart analysis techniques. As I have said repeatedly, the more time you invest in chart analysis, thinking that chart analysis is the same as a trading strategy, the more you will inevitably feel the limitations of your trading skills. This is because there are many cases where you cannot proceed with trading as you analyzed, so you have no choice but to be negative about trading. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
Education
by readCrypto
2
How AI will revolutionise the trading world – 14 WaysThe era of AI has unleashed in almost every aspect of our lives. And I believe that there will soon be a seismic shift in financial trading with AI. I feel it’s my duty to share some of the ways, we will incorporate, adapt and integrate AI into trading. To explain in simple terms… AI is a concept to teach machines, robots and computers how to perform human actions. And trading is just another element that AI will apply to. Let’s start… #1: AI Trading Bots We’ve had EA (Expert Advisors), chat bots and machine learning when it comes to trading. As AI adapts more into the financial world, they will be able to signal, alert and even optimise our trading strategies, risk management and financial profile. #2: AI will alert more markets into our watch lists Not all markets work with our trading strategies. Right now we have to manually search for different markets to back, forward and real test. Once AI adapts to our trading strategy, it will be able to pinpoint the most efficient and effective markets to include into our trading arsenal. #3: Real-time risk management AI’s rapid data processing will be able to identify our risk profile. In the near future, it will be able to identify not only trading setups, but also the volume we’ll need to buy or sell to enter or exit a trade. It will alert us when trades are ready to go and will ask us whether we want to go ahead and action the high probability trades (according to our risk management. #4: Algorithmic automatic trading Once we lay out the parameters of what we want our AI trading bots to do, they will be your employee. They’ll be able to take action while you’re away such as: Layout the chart setups Plug in the trading levels (entry, stop loss and take profits) Execute trades on our behalf They will work for us, which will limit our time staring at screens. #5: Sentiment Analysis: Read the market’s mood This tool will help us identify who’s dominant in the markets. Are the bulls or bears stronger. It will then give us a gauge meter to tell us whether demand or supply is higher. And this will help us make calculated decisions, based on our own trading analyses. #6. Freeing humans from the grind When AI takes over our trading, it will do all of the mundane tasks for us. It’ll focus on: What markets work best with the system Which markets to remove from the watch list and whether we are in favourable or unfavourable terrorist according to our system This will free traders from spending hours behind a screen on the daily. #7: Automation: Back and forward testing When AI learns a system with the right parameters and criteria, it will be able to backtest for us. It’ll be able to go through hundreds of trades in the past and will provide a full review of the stats and measures. It’ll tell us the: trades of winners and losers Win and loss rate Average winner and loser per trades Costs, risks and losses Accumulation of profit and losses and more… #8. Pre-emptive fraud detectors AI doesn’t just detect fraud—it sniffs out all the unregulated and fraudulent type companies, brokers, market makers. It also analyses the markets micro and macro analyses to see which companies are doing well, cooking the books and / or are red flags to buy or sell. Its predictive capabilities will be able to save millions of traders from falling into financial trading traps and scams. #9: Customizable AI trading assistants Also, I bet we will see companies create their own trading assistants. Similar to Siri, Alexa and Google. You will have your own finance-savvy cousin ready to act on your trading needs. Whether you want to trade, find setups, talk about tested systems, create new strategies, learn real time info about markets and instruments. You’ll have your own AI trading assistant just call away. #10: The rise of quantitative trading Quant trading will soar to new heights. AI will be able to crunch numbers and optimise strategies with high speed and precision. This will make sense of complex financial models at lightning speed. #11: Real-Time chart pattern identification Eventually, AI will adapt machine and deep learning into charts. We will finally see the day where market patterns, trends are identified on any time frame. As they learn the bends, turns, vectors and consistency with the charts through predictive analysis from historical market data… AI will adapt and learn to plot more accurate, recurring chart patterns and use them to predict future price movements on any market. And AI will be able to scan hundreds of charts simultaneously and highlight significant patterns as they emerge. This will present high, medium and low probability setups for our trading. #12: Past chart patterns predictive analyses Not only will it identify real-time chart patterns. It will also spot historical price patterns and insights that took place in the past. This will help us to back test the systems and how they worked on particular markets. AI will be able to identify the chart patterns that have proven to be most successful for that particular trader. #13: Personalized and customised trading strategies What if you have a new chart pattern you’d like to adapt into your analysis? Well I’m sure AI will have the ability to learn, recognise and incorporate your chart patterns into the system. This way you can personalise what chart patterns, candlestick patterns or strategies you would like customised to your style. This means that each trader can have a unique set of chart patterns to look for, tailored to their trading style and risk tolerance. This personalized approach can potentially enhance your trading performance and your profitability. #14: Integration with other data sources This will most likely be open-ended. It’ll work via the network where AI will improve chart pattern recognition in financial trading by integrating with other data sources. Imagine AI learns from millions of traders, millions of strategies, systems and new inputs. I can only imagine that traditional manual chart pattern systems will be a thing of the past. With the new set of systems, formation, price and volume data – we will see integration of brand new forms of analyses and strategies. And this will bring a new era of financial trading. Final Words and summary! It’s all exciting and frightening at the same time. Because with AI integration, we will see yet another shift in the algorithms and it’ll bring a new future for trading. Only those who learn to adapt and evolve – will make it… Let’s sum up all the AI elements that will we mentioned here. #1: AI Trading Bots #2: AI will alert more markets into our watch lists #3: Real-time risk management #4: Algorithmic automatic trading #5: Sentiment Analysis: Read the market’s mood #6. Freeing humans from the grind #7: Automation: Back and forward testing #8. Pre-emptive fraud detectors #9: Customizable AI trading assistants #10: The rise of quantitative trading #11: Real-Time chart pattern identification #12: Past chart patterns predictive analyses #13: Personalized and customised trading strategies #14: Integration with other data sources
TVC:SA40Education
by Timonrosso
Learn 2 Essential Elements of Trading In the today's post, we will discuss how trading is structured , and I will share with you its 2 key milestones. Trading with its nuances and complexities can be explained as the interconnections of two processes: trading rules creation and trading rules following. 1️⃣ With the trading rules, you define what you will trade and how exactly, classifying your entry and exist conditions, risk and trade management rules. Such a set of consistent trading rules compose a trading strategy. For example, you can have a following trading plan: you trade only gold, you analyze the market with technical analysis, you buy from a key support and sell from a key resistance on a daily, your entry confirmation is a formation of a reversal candlestick pattern. You set stop loss above the high/low of the pattern, and your target is the closest support/resistance level. Here is how the trading setup would look like. In the charts above, all the conditions for the trade are met, and the market nicely reached the take profit. 2️⃣ Trading strategy development is a very simple process. You can find hundreds of different ones on the internet and start using one immediately. The main obstacle comes, however, with Following Trading Rules. Following the rules is our second key milestone. It defines your ability to stay disciplined and to stick to your trading plan. It implies the control of emotions, patience and avoidance of rationalization. Once you open a trade, following your rules, challenges are just beginning. Imagine how happy you would feel yourself, seeing how nicely gold is moving to your target after position opening. And how your mood would change, once the price quickly returns to your entry. Watching how your profits evaporate and how the initially winning position turns into a losing one, emotions will constantly intervene. In such situations, many traders break their rules, they start adjusting tp or stop loss or just close the trading, not being able to keep holding. The ability to follow your system is a very hard skill to acquire. It requires many years of practicing. So if you believe that a good trading strategy is what you need to make money, please, realize the fact that even the best trading strategy in the world will lose without consistency and discipline. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
10
12 Most Common Trading Myths - BUSTEDAs long as people lose money with trading (and that is like 98%) of the lot. They will preach the bad word. And this will lead to rumour which will create false beliefs - I.E Myths... Well I've been trading for two decades and I'm going to put these myths to bed. Let's go! Myth 1: It’s a Get-Rich-Quick Scheme Trading has long been shrouded in the myth of transforming anyone into an overnight millionaire. But it’s an illusion. It’s what drives newbies and amateurs into the trading world. And then a few months later, when they realise what it actually takes to grow an account. They move to the next “best” thing. Trading is a forever life-style that requires ongoing discipline and patience through strategic planning, knowledge and presteen execution. And not to mention, it also involves periods of losses. There are no shortcuts to wealth in trading, it’s a journey, not a sprint! Myth 2: It’s Just High-Stakes Gambling Trading is a form of gambling. But strategic gambling. It’s not like pulling the slots machine and having a chance of being right or wrong. Or flipping a coin. No, trading has an element of risk and reward control. And it is based on nothing more than probabilities and comprehensive understanding of market trends, money management and analytical skills. Unlike gambling, which is based largely on luck. You have an element of control with the outcome. That’s through trading journals, back and forward testing and making stringent decisions. Myth 3: More Risk, More Reward Yes! If you risk more you’ll gain more. But when you risk more, you can also LOSE way more. With trading derivatives and leverage, you’re exposed to more than what you put in. Sometimes 10 times, sometimes 50 and other times 500. So, this alone should tell you how dangerous trading is. When your portfolio goes to 0 – due to high risk – That’s it. And many traders full port their accounts. And majority become the 98% losing stat of trading. Stick to low risk, low return. Keep consistent and the return will start adding up and you’ll reap the rewards in time. Myth 4: Only the Rich Can Trade The myth that trading is a club exclusive to the wealthy is just that, a myth. Decades a go, you would have needed thousands to start trading and investing. But no longer is that the case. Some brokerages don’t even have a minimum with trading. You can start off with a demo or practice account. As long as the competition and innovation picks up, trading will be cheaper, faster and more accessible. Myth 5: Trading is Only About Buy low – sell high Although this seems like a logical strategy. It’s not the only way to profit. Trading techniques like short selling allow traders to profit from falling markets. Not only can you buy low and sell high. You can also sell high and buy low. Myth 6: More Trades Equal More Profit Trading isn’t a game of ping pong. You don’t just play as many times as you can in a day, to profit. First, Overtrading can lead to rushed decisions, increased transaction costs, and significant stress. Patience often plays a crucial role in a trader’s success. And second, it all depends on the market environments. If the market is not trending, you can go long or short and still lose every bet. Rember you still have to let the market move up or down a bit to make up for the trading costs! And so you’re already at a disadvantage when you take a trade. Sometimes the best move is to sit on your hands. Neutral is also a position and a powerful position during certain periods. Myth 7: Successful Trading Means Winning Every Trade Even the most successful traders get knocked down by losses. It’s the nature of the trading game. What matters is the net outcome over a period of time. Your job is to make sure the losses are small and the gains are bigger. That way, even with a 50% win rate you’ll win and the profits will outweigh the losses in the long run. Myth 8: Complicated Strategies Yield Better Results You’ve heard of analysis paralysis right? When you literally plant so many indicators on your chart it looks like a Jackson Pollocks Christmas Tree painting. Complication does not equate to success. You’ll learn that: Too many indicators will conflict with each other. You’ll struggle to back test a system. You’ll struggle to find high probability trades. You’re making it more complex than it needs to be. And most important… You need to learn to KISS (Keep It Simple Stupid). Often, the best trading strategies are the simplest. What’s essential is understanding your strategy thoroughly and executing it consistently. Myth 9: You Need to Monitor the Market 24/7 Thanks to stop-loss orders and other automated tools, you do not need to be glued to your screens all day. The most important attention you’ll need to apply is trading layout, setup and execution. Once you’re done and the trading levels are in place. Go live, do something else. Don’t be a nerd. Enjoy life. Trading requires attention, indeed, but a healthy balance is crucial to maintain clear-headed decisions. Myth 10: Markets Are Always Rational Markets, unfortunately, aren’t always rational. Just like you learn in school. There is ideal and real ways of the world. Sometimes, the market is one clusterfreak of confusion. Correlations don’t work according to the book. Trends don’t match up the micro and macro analyses of companies. Good news doesn’t mean strong uptrends. Markets are run by many, many, many other factors. They can be swayed by demand, supply, algorithms, Smart Money, greed, panic, emotion, rumor, and corruption and manipulation. This will lead to price distortions. There is a famous quote attributed to Great Depression-era economist John Maynard Keynes – “Markets can remain irrational longer than you can remain solvent”. Myth 11: Brokers Want You to Lose Money Yes there are a ton of brokers who make money when you lose. But reputable, credible and top regulated brokers – do NOT want you to lose. They make their money from brokerages, spread and from trading volumes. They want you to succeed and grow. Because if you blow your account, they lose a client. Hence, when brokers approach me I always tell them the importance of education, guidance and helping them SUCCEED. Myth 12: Once a Successful Trader, Always a Successful Trader Market conditions, strategies, and personal circumstances change. If you want to be a successful trader and remain one it requires constant learning, adaptation, and diligent risk management. This includes me! Despite how long I’ve been in the markets, I treat each day independently. I follow my system, risk management rules. I look for future opportunities and prospects to improve my trading, platform, journals and even testing. This is forever an alive game that requires action. We are always learning, growing, improving and adapting. Like they say, past success doesn’t guarantee future profits. Let’s sum up the 12 common Trading Myths: Myth 1: It’s a Get-Rich-Quick Scheme Myth 2: It’s Just High-Stakes Gambling Myth 3: More Risk, More Reward Myth 4: Only the Rich Can Trade Myth 5: Trading is Only About Buy low – sell high Myth 6: More Trades Equal More Profit Myth 7: Successful Trading Means Winning Every Trade Myth 8: Complicated Strategies Yield Better Results Myth 9: You Need to Monitor the Market 24/7 Myth 10: Markets Are Always Rational Myth 11: Brokers Want You to Lose Money Myth 12: Once a Successful Trader, Always a Successful Trader Can you think of anymore?
TVC:SA40Education
by Timonrosso
important to check whether there is support or resistanceHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- From the moment we start trading, a mental war of attrition begins. Even if you create a trading strategy in many cases before starting trading, the mental battle of attrition due to price fluctuations begins after you start buying. In order to win this mental war of attrition, a plan to lower the average purchase price is inevitably needed. Therefore, concluding a purchase in one transaction can easily result in losing the mental battle of attrition. This phenomenon is clearly evident in futures trading. In order to reduce this formal war of attrition, it is recommended to refrain from breakout trading whenever possible. Looking at the example chart, I've marked several support and resistance points. We know that in most cases, it is not too late to check support and resistance at these support and resistance points and proceed with the transaction. However, when the price fluctuates, a mental war of attrition begins as trading proceeds immediately without checking basic support and resistance. I believe that this phenomenon is caused by anxiety caused by one's own greed. In order to reduce these conflicting elements, it is necessary to practice checking for support and resistance at the points of support and resistance. We use several methods to check for support and resistance. No matter which method you use, the most important thing is to remember that the method that suits you is best. Basic support and resistance can be outlined to some extent by checking the 1D chart for at least 1 to 3 days. If a trend appears after this period, it corresponds to a coin (token) that shows rapid movements in the short term. Otherwise, you will see sideways movements for about 7 to 10 days. However, since the coin market allows trading 24 hours a day, it is quite difficult and difficult to check support and resistance for at least 1 to 3 days. This leads to rapid transactions, resulting in a formal war of attrition. There is no special way to check for support and resistance. The know-how you gain depends on how many transactions you have made. Also, it is important to think in advance about how you will respond when support and resistance appear in the opposite direction of what you expected. I think the reason trading is called gambling is because this method cannot be defined. So, I think there are people who say that it is a game with a 50% chance of going up or down. However, these thoughts will gradually disappear as you create a response strategy according to price fluctuations through studying charts and trading strategies learned through many transactions. Ultimately, whether you accept the know-how you gain by conducting many transactions at your own will as your own and whether you correct your mistakes will ultimately determine the success or failure of the transaction. - Can you create the necessary support and resistance points or sections to check whether there is support or resistance? - Even if the support and resistance points or sections were selected incorrectly, can you trust the support and resistance points or sections and find a response plan? Chart study must be done to satisfy the above contents. Terms, patterns, and trends on charts only serve to modify your trading strategy while trading. In the end, we must not forget that everything begins by checking the support and resistance at the support and resistance point or section. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
Education
by readCrypto
3
Example for conducting a split transactionHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- To create a trading strategy - Investment period - Investment size - Trading method and profit realization method The above conditions must be taken into consideration. As you proceed with trading, you will respond to price changes depending on the trading method and profit realization method among your trading strategies. This usually results in a split transaction. We must not forget that long-term holding means that we are seeing period losses due to long-term holding. This is because profits from long-term holding are ultimately difficult to view as actual profits. Additionally, while holding it for a long time, you miss out on the opportunity to earn greater profits by trading other coins (tokens), which reduces expected profits. Therefore, when rapid price volatility occurs, a response is necessary. This can reduce the psychological burden that comes with long-term possession. If you purchased BTC below 29K, the current price movement is at a level that does not cause much pressure. However, looking at the price volatility of altcoins due to BTC price fluctuations, you may feel psychological pressure. This is because they feel psychological pressure to protect their current profits, so they worry about whether to proceed with a split transaction. If you look at the movements of altcoins due to BTC price volatility from around November 2nd, when this volatility period began, to the present, you may think that there will be a big drop once. If the average purchase price is below BTC 29K, but you are not yet familiar with creating a trading strategy based on chart analysis, it is recommended to proceed with split trading when volatility exceeds -10% to +10%. When volatility exceeds -10% to +10%, it basically means the volatility of one candle on a 1D chart. Accordingly, there was an opportunity to conduct a split transaction as recently as October 23rd. To be sure that a volatility of -10% to +10% has occurred, the candle of the day must be closed. Therefore, it is recommended to proceed with trading just before the day's candle closes. However, since it has been continuously rising since October 23rd, I think there is a high possibility that if you sold it in installments, you are currently regretting it. However, you can seize new opportunities and feel psychological stability with the cash you get from selling in installments. Additionally, if the price falls by more than -10% in the future, additional purchases can be made. Since the price is rising, it is thought that even if the price rises higher and falls by more than -10%, if you buy it at a higher price than the split sale price, you will ultimately incur a loss. But, that's not the case. The most important thing in trading is to make a big profit, but it is more important to have your own psychological stability. So what is needed is a profit realization method. What is not possible with traditional stock market trading methods is possible in the coin market. The reason is that coins (tokens) can be traded in decimal units. Therefore, if you trade by purchase price, split trading is possible even if the price rises. For split transactions based on long-term holding, it is recommended to increase the number of coins (tokens) corresponding to the proceeds. Therefore, when selling in installments, the number of coins (tokens) corresponding to the profit is reserved by selling the purchase principal amount corresponding to the purchase price (+ transaction fee x 2 included). If trading is carried out in this way, the average unit price provided by the exchange becomes meaningless. Therefore, if you continue trading in this way, all of the purchase principal will be recovered, and only the number of coins (tokens) corresponding to the profit will remain. Therefore, once the entire purchase principal has been recovered, the average purchase price of the remaining coins (tokens) becomes 0. In this situation, even if you proceed with the transaction again, the average purchase price will be lower than the purchase price, thereby reducing the psychological burden of purchasing. The impact of these transactions has greater significance when investing with a long-term perspective. If so, let's give an example of how to proceed with additional purchases. The method mentioned above, i.e. split trading when volatility is more than -10% to +10%, is a good method to use for those who are not familiar with chart analysis or creating trading strategies. (Basically, you need the know-how to determine whether you are supported or resisted at a support or resistance point or section. It is a tedious and difficult task as it requires checking movement for at least 1 to 3 days to check whether support or resistance is received at the support and resistance points.) 1. You can proceed with split trading based on the 5EMA on the 1D chart. The 5EMA on the 1D chart has long been called a rising line. Therefore, in order to proceed with a breakout trade, it is recommended to proceed when the price rises above 5EMA. When the price rises sharply and falls away from the 5EMA, it touches the 5EMA line again and appears to be supported, so a split purchase is possible. Therefore, split purchases are possible in section 1. Accordingly, you will have to worry about how much of a purchase proportion you should make when purchasing. When buying around 5EMA, it is recommended to buy about one-third to one-fourth of your current holdings. (If you purchase in proportion to the number of coins (tokens) held, the average purchase price will increase significantly, so it must be calculated based on the current amount held.) If you purchase more than that, you may feel psychologically anxious if the average purchase price shown increases significantly, so you need to be careful. 2. When support is confirmed near the MS-Signal indicator on the 1D chart (26EMA, which shows similar movements), you can proceed with split trading. The next section for additional purchases is possible when support appears near the MS-Signal indicator. At this time, you can purchase with 50% to 100% of the amount held. The reason is that there is a high possibility of creating a pull back pattern. 3. Split trading is possible depending on whether support or resistance is received around the HA-Low and HA-High indicators. If it is supported by the HA-Low indicator, it is basically a good time to buy additional money because it is highly likely to touch the HA-High indicator. However, if supported by the HA-High indicator, there is a possibility of renewing the previous high point, so this also corresponds to the time for additional purchases. Don't do it. If the HA-High indicator falls, it is highly likely that it will touch the HA-Low indicator, so a countermeasure is essential. If the HA-Low indicator falls, there is a possibility that the previous low point will be renewed, so a response plan is also needed. However, if it falls below the HA-Low indicator, there is a possibility of forming a bottom, so depending on the overall position of the price, you may have a better opportunity. -------------------------------------------------- ------- Rather than analyzing charts, it is more important to think about these trivial(?) trading strategies and create a method that suits you. This trading strategy does not necessarily require good chart analysis. Therefore, in order to proceed with a transaction, you must have an idea of these minor(?) details. Therefore, you should spend more time creating your trading strategy than you spend analyzing charts. A trading strategy requires you to create a big picture trading strategy before you start trading. In addition, by creating a detailed trading strategy within the scope of the trading strategy in the big picture and proceeding with the transaction while feeling psychologically stable, even if the transaction fails, the impact on proceeding with the next transaction can be reduced. The most important thing in chart analysis is to have the know-how to check whether you are supported or resisted at support and resistance points or sections. I do not recommend analyzing charts beyond that because it means becoming an analyst rather than trading. Therefore, rather than studying difficult chart analysis techniques, more time should be invested in checking whether support or resistance is received at support and resistance points or sections. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
INDEX:BTCUSDEducation
by readCrypto
5 Ways to Improve your Trading - WORTH THE READYou’re going to need a cup of coffee or two for this one. It is my longest trading article I’ve ever written. I’ve written it because I care about you and I want you to succeed. So, please take the time to read this and save it for the future. Or if you don't have the time then at least go to the bottom to see the highlights of the article... Enjoy and trade well! Part 1 – EXPERTISE Choose your markets wisely. There are so many different markets to choose from, that you need to upper your knowledge. Whether it’s understanding market, assets, securities and instruments – you need to have basic knowledge. Here are some to consider… #1: New ETFs (Exchange Traded Funds) Exchange-traded funds (ETFs) are a popular way to invest in a diverse range of assets. If you want to improve your expertise in ETF trading, stay informed about new trends and opportunities in the market. Keep up to date with the latest developments in the ETF industry, such as new ETFs being introduced, and be aware of market trends and movements that may affect your trades. #2: New AI Tech Companies and Technology Artificial intelligence (AI) technology is revolutionizing many industries, including finance. To stay ahead of the game in financial trading, be sure to keep up to date with new AI tech companies and technologies. See what Google, Open AI (ChatGPT, Dallee), Apple and Meta are doing. Even some crypto AI companies. Familiarize yourself with the latest innovations in the field, and consider investing in companies that are developing or utilizing AI technology. #3: Electric Vehicles Electric vehicles are an emerging trend in the automotive industry. Even in Greece and Europe, we are seeing more Teslas on the road and electric garage stations. And they are expected to have a significant impact on the global economy, environment and with the automotive sectors. Stay up to date with the latest news and developments in the electric vehicle market, and be aware of how it may affect your trading strategies. #4: Space Tourism Space tourism is a new and exciting industry that is attracting significant interest from investors. Keep an eye on the latest developments in the space tourism market, including new companies (SpaceX, Virgin Galactic and even Amazon technologies. #5: Metaverse The metaverse is a virtual world that is becoming increasingly popular, and it is expected to have a significant impact on the way we live and work. They are here to stay, improve and evolve. From virtual reality, augmented reality and a mixture of both. Get yourself a Quest headset (or wait for the Quest 3) and see the new opportunities in the space. Don’t get left behind.There are many other areas of expertise of industries that you should be aware of. Just do a bit more research and incorporate them into your trading and investing lives. Part 2 – TIME Time is all we have. It’s also something you can’t get back but it’s something you can utilise and take advantage of. With trading, you need to use your time wisely, In this part we will talk about how you can improve on this aspect. #1: Be Punctual One of the most important aspects of successful financial trading is being punctual. Be sure to arrive at your trading desk or platform on time. Be ready to take action when the markets open. Be prepared for when trading opportunities align and when they are ready to execute. Don’t miss these opportunities, because it just takes ONE big one to take your portfolio out of your drawdown and in the green. #2: Don’t Miss a Day Missing a day of trading could lead to missed opportunities and lost profits. Be sure to stick to your trading schedule and avoid missing any trading days. And if you miss a day, make up for it the next day. Spend extra time on analyses, execution and even during your evaluations and tracking of your portfolio. #3: Set a Reminder To help you stay on track with your trading schedule, set a reminder on your phone or computer. Even better. Set an alarm for when you know you need to trade. Time slips by so quickly and we can get distracted in the day. How many times have you forgotten to have lunch, drink water and miss your favourite TV show? Use your timer and set reminders with trading. This will help you to stay focused and ensure that you don’t miss any important trading opportunities. #4: Sticky Notes Sticky notes can be a helpful tool for staying organized and focused when trading. Use sticky notes to remind yourself of important dates, deadlines, trading setups, ideas and trading strategies. Also use sticky notes to maybe have a plan on what you need to do as a trader that day. They help and are great to bring to your notice with the actions you got to take. Part 3 – ACTION Without action, it stays a dream. Without action, it stays an idea. Without action, it stays a what if… You need to DO instead of SAY. You need to ACT. That’s what this is all about with improving another area with your trading. #1: Place Your Trading Levels Don’t just look at what is lining up. Write them down on sticky notes. Have them all drawn up on your charting platform. And make sure EVERY detail, trading level and reason is somewhere you can see. Then you have no other choice but to set your trading levels carefully. Or if you need to adjust them as necessary to reflect changing market conditions and lock in gains where you can. #2: Prepare Your Trading Setups You need to prepare your trading setups carefully. This will help you to stay organized and focused when trading. Set up your trading platform, charts, and other tools before you start trading to ensure that you are ready to take action when the markets open and eventually hit your desired levels to action. #3: JUST TAKE THE TRADE High probability setup – tick. Trading levels in place – tick Risk analyses and volume analyses all according to plan – tick As I like to say JTTT – Just Take the Trade! Taking action is the most important part of successful financial trading. Don’t be afraid to take a trade when the opportunity arises, but be sure to do so with caution and careful consideration of the risks involved. Part 4 – VISION AND GOALS We all have our desired goals and vision in place. Or else why would we do it? Right? With trading, we have a game plan. And when we have a solid plan with a proven track record, we can almost see into the future of the outcome. But you need to write them down. You need to have realistic targets and goals. You need to incorporate the downside and drawdowns as well. And you need to remember, to achieve these – you have to take additional steps such as… #1: Deposit more money One way to improve your financial trading results is by depositing more money into your trading account However, this does not mean that you should invest all your savings. It is essential to balance your investments and diversify your portfolio to minimize risk. Maybe you want to deposit 5% per month. Or maybe you want to just deposit one fixed lump sum, to start growing your account. Be sure to evaluate your financial situation and set realistic investment goals that align with your financial capabilities. #2:Be responsible Being responsible is crucial in financial trading. You need to be disciplined in your trading activities and avoid making impulsive decisions. Stick to your strategy and stay true to your long-term goals. You should also ensure that you have a clear understanding of the risks involved in financial trading. #3: Eye on the sexy prize Short-term gains can be tempting – I get it. We are seeing the future before we are dealing with the present. And this is dangerous in the short term. It might feel slow, unprogressively and not as amazing as you thought after a year. But with compounding, eventually you will feel the success, triumph and true potential of trading power. But it is essential to focus on long-term growth and wealth potential. Be prepared to hold onto your investments for an extended period, even if there are temporary fluctuations in the market. #4: Focus on growth and wealth potential It is crucial to have a clear understanding of your long-term goals and make informed decisions based on them. If you want to grow your wealth, you need to be patient and take calculated risks. Diversify your portfolio and invest in assets that have long-term growth potential can help you achieve your financial goals. Part 5 – ATTITUDE Now it’s up to you. You have to face the elements of trading. The winners. The losers. The drawdowns. The insane winning streaks. The slowdowns. The sideways going nowhere. This all can mess with your emotions. Hence they say don’t ride the emotional rollercoaster. So let’s fix your attitude shall we? #1: Biggest mental enemy is – YOU Your mindset plays a significant role in your trading success. The biggest mental enemy in financial trading is you. It is easy to get caught up in emotions such as fear and greed. This can lead you to taking impulsive and revengeful trades. This can lead to you giving up during the bad or slow times. To overcome this, you need to have a clear understanding of your emotions and how they can affect your trading decisions. #2: Stop celebrating winners Avoid celebrating them excessively. Great you won some money! But what about the next trade? What about next month. What about next year. You are only as good as your last trade. And when you banked a winner, you need to focus on the next trade and let by-gones be by-gones. Celebrating your wins can lead to overconfidence, which can be detrimental to your trading success. Keep level headed at all times. Especially during successful trades. #3: Stop crying over losers Similarly, you should not dwell on your losses. Losses are part of the learning process. They can help you identify areas of improvement in your trading strategy. Instead of crying over losses, focus on learning from them and making informed decisions based on your trading plan. Also, go back to your track record. Go look at the biggest drawdowns you had and how you overcame them when the market went into a better environment. That will stop you crying over losing a bit of money. Besides, losing money is not a loss. It’s simply a cost of trading. Think of it like that and you will never feel another loser again. #4: Be long term oriented Financial trading is a long-term game. To be successful, you need to have a long-term mindset and a strategy that aligns with your long-term goals. I’ve told you many times. It’s not about the one trade but the hundreds of trades later. Just keep to your discipline, follow the plan and strategy and you’ll see it pay off in the long run. #4: Stop thinking of instant successes Financial trading is not a get-rich-quick scheme. You cannot expect instant success or overnight riches. Instead, you need to be long-term oriented and take a strategic approach to your investments. It would help if you were patient and persistent, even when faced with setbacks or losses. 5 Areas to Improve! We’ve come to the end of the 5 part – Areas you need to improve with trading. What a pleasure it’s been. I’ll sup up everything below so you can have a quick reminder what you need to work on. EXPERTISE #1: New ETFs (Exchange Traded Funds) #2: New AI Tech Companies and Technology #3: Electric Vehicles #4: Space Tourism #5: Metaverse TIME #1: Be Punctual #2: Don’t Miss a Day #3: Set a Reminder #4: Sticky Notes ACTION #1: Place Your Trading Levels #2: Prepare Your Trading Setups #3: JUST TAKE THE TRADE VISION AND GOALS #1: Deposit more money #2: Be responsible #3: Eye on the sexy prize #4: Focus on growth and wealth potential ATTITUDE #1: Biggest mental enemy is – YOU #2: Stop celebrating winners #3: Stop crying over losers #4: Be long term oriented #5: Stop thinking of instant successes If you found this helpful let me know in the comments. Remember to stay disciplined, be patient, and keep your eyes on the long-term prize. J.T.T.T
TVC:SA40Education
by Timonrosso
Top 10 AI Stocks to Trade and add to Trading View WatchlistAI is definitely one of the key words for the century. And yes, I believe these are great companies to add to our watchlist to trade. ANd Trading View has all of the companies to analyse their movements. . We could even see AI companies being some of the safe-haven stocks to invest in 2024… Here are my top 10 companies that are incorporating AI into their businesses and ones I'm trading lately. 1. Microsoft (MSFT): Develops, licenses, and supports software, services, devices, and solutions. 2. Advanced Micro Devices (AMD): Designs and sells computer processors and related technologies. 3. NVIDIA (NVDA): It designs graphics processing units (GPUs) for gaming and professional markets. 4. Palo Alto Networks (PANW): Offers cybersecurity solutions and firewall technology. 5. Customer Relationship Management (CRM): This is a strategy that companies use to manage interactions with customers and potential customers. 6. Meta Platforms - formerly Facebook – (META): Operates social media and virtual reality platforms (e.g., Facebook, Instagram, WhatsApp, Oculus) Note: Oculus 3 Headset is coming out next year and it’s going to include and introduce Augmented Reality to the world. 7. Palantir Technologies (PLTR): Develops data analysis software and provides data integration and analytics platforms. 8. Adobe Inc. (ADBE): Creates software products for content creation, multimedia, and marketing. 9. Apple Inc. (AAPL): Designs and markets consumer electronics, computer software, Virtual Reality and online services. 10. Micron Technology (MU): Micron Tech. inc. designs, develops, manufactures, and sells memory and storage products worldwide I have an entire watchlist just saying AI STOCKS... There isn't an Index yet, so I'm watching them and trading accordingly.
TVC:SA40Education
by Timonrosso
3 Risk Actions to take in a Sideways Market “Do you have any risk or money management rules you take, during a Sideways Market or Twilight phase? I want to be more cautious with my trading.” These actions, no doubt, will help us protect and preserve our trading accounts. Action #1: Drop your risk even more If you’re feeling uneasy with the markets, as many have – drop your risk. You can even drop your risk to a range of 0.5% to 1% per trade, as opposed to the usual 2%. This will keep you in the game, so you don’t miss out on any moves. Action #2: Hegde your portfolios I consistently employ hedging strategies, both Longs and Shorts. For example, you can go long stocks and short gold as a hedge. Or you can go long Bitcoin and short Ethereum as a hedge. As long as your losses are smaller than your winners, then your winners will outweigh. And this will help keep your portfolio in check. Action #3: Diversify The JSE ALSI 40 isn’t the be all and end all of trading. You need to learn to diversify into other markets. I’m talking about Forex like EUR/USD, Indices, and even intraday trades.
TVC:SA40Education
by Timonrosso
My Trading Strategy in 3 Steps 📊As per @TradingView 's previous post, in this article, I am going to share my trading strategy in three steps. 📌 Step 1: First, start from the higher timeframes like Daily/Weekly to identify the current long-term trend. Is it bullish, bearish, or stuck inside a range? If the price is sitting in the middle of nowhere, then it is a NO trade zone, as the price has a 50% chance to go either up or down. Thus, there's no edge! Remember: No trade is also a trade. 📚Wait for the price to approach the lower bound or upper bound. Then proceed to Step 2. 📌Step 2: Zoom in to lower timeframes like H1 and M30 to look for any reversal setups. A basic approach would be to wait for a swing low to be broken downward around a resistance as a signal that the bears are taking over. In parallel, wait for a swing high to be broken upward around a support for the bulls to take over. This would be the confirmation to enter the trade. Just like a sniper waiting for the perfect shot! 📌Step 3: Target at least a 1/2 risk-to-reward ratio. This way, even with a 50% win rate, you can still be profitable. Remember: We are risk managers, not traders. We can't control the market; the only thing we have control over is our risk. 📚Always follow your trading plan regarding entry, risk management, and trade management. Hope you find the content of this post useful 🙏 All strategies are good; if managed properly! ~Richard Nasr
Education
by TheSignalyst
51
How to Adapt to the Ever-Evolving Financial Markets – 4 WaysThe only constant with the financial markets is… Change The market is constantly changing in a way that it’s bringing: New demand New supply New volume and fresh changes in the complex algorithms. If you want to thrive you need to learn to learn to adapt, evolve and grow with the markets. I want to cover four elements to today’s topic. The Inevitability of Market Change Change is not only constant but inevitable in financial markets. There will always be new elements streaming into the markets from: Global and political events Micro and macro aspects Economic indicators Regulatory shifts, and Investor sentiment These elements are perpetually at work, shaping and reshaping the market. These catalysts can shift the trajectory of entire sectors, leading to volatile market movements. Influx of New Volume on Market Dynamics Every day, the market sees a deluge of new volume. There are new traders and investors constantly joining the financial markets world. And we are seeing an inflow of capital from retail traders, institutional investors, and high-frequency trading firms. The big institutions like Smart Money (banks, hedge funds, brokers etc…) are causing the big volatile moves in the market. The smaller guys – dumb money and retail traders – are also helping with liquidity in the markets. Every transaction is causing a shift in the market. No matter how small it’s the “Butterfly Effect of the financial market”. The Role of Algorithms in Market Evolution In the era of digital transformation, algorithms have become a pivotal part of the financial markets. Algorithmic trading or ‘algo-trading’ employs complex mathematical models to execute trades at lightning speed and frequency. I’m talking about Copy Trader, Robinhood, AI trading bots, EA Expert Advisors and pre-determined automatic mechanical trading methods. This practice is now an integral part of the trading landscape. And they will continue to have an influence in price action, and market patterns. Haven’t you noticed? In the 50s through to the early 2000’s. The markets trended on a more consistent basis. Any monkey could choose a list of good stocks and hold them until they were up 200% – 1000%. But nowadays with derivatives, algorithms, shorts and automatic execution – markets have never been more volatile and more difficult to ride the trends. Always Adapt to Thrive in Changing Markets It’s our job to learn to be more flexible and to adapt to these market conditions. As markets evolve, so must we evolve with them. We need to always: Apply new markets to our watchlists Look for better trading instruments Change the trading strategy to make it more conducive with the environments Always look for the next best broker, trading and charting platform Look for ways to reduce costs and maximise profits. I’ll end off with this. The market is constantly changing, adapting and evolving. We need to embrace the change and not see it as a threat. Have this mentality and you’ll always have the opportunities to improve, anticipate and grow as a trader.
TVC:SA40Education
by Timonrosso
1
CCC Intelligent Solutions Holding Inc. Moon or BustChart was brought up on my stream today, and I wanted to post a chart. Looks like a nice run-up stock looking for a decent crash that should equal some pretty large percentage losses. Short term parabolic stock, so when those green trends break, the pump is pretty much over, and you'll want to start looking for an exit or short position on the retouch, which looks like it might end up being 13.9, but it's too hard to say right now, as those trends are held up on weak support. CCC Intelligent Solutions Holding Inc. exhibits promising signs in its current chart analysis. On the daily timeframe, the Relative Strength Index (RSI) is indicating a bullish sentiment, although we haven't detected strong trend momentum yet. However, what makes this chart intriguing is the presence of a potential 'cup and handle' pattern nested within a larger 'cup and handle' formation. Digging deeper into the 4-hour chart, we find crucial trend support, which has not been breached, and the RSI has yet to cross into bearish territory. This solidifies the foundation for a robust short-to-medium-term outlook. Furthermore, a notable price gap has been observed at $12.5, providing an interesting point of reference for potential price movement. The 1-hour RSI suggests a short-term correction may be on the horizon, supported by a subtle emerging trend. This could strengthen our 4-hour trendline, potentially setting the stage for a surge towards the $14 mark, with an optimistic stretch target of $15.72 in the event of favorable developments. It's essential to note, however, that the 5-minute and 15-minute charts are currently showing signs of being overextended, indicating a need for caution in the short term. In terms of price targets, we have an upper range of $13.9 to $14.05, while the lower range stands at $8.47 to $7.41. While a maximum price of $18 to $20 is not entirely out of the realm of possibility, it's essential to maintain a realistic perspective, and such levels may not be easily attainable. In the unlikely event of a significant downturn, the stock could potentially dip below $5. In such a scenario, it's crucial to be prepared for a potential bounce when the drop stabilizes. Looking ahead to the start of the trading week, should Monday open with a downward movement, it could present a compelling buying opportunity around the $12.54 mark, aligning with the prevailing trend. Such a move would also serve to reset the technical indicators, potentially paving the way for a push towards $14 and beyond. In conclusion, CCC Intelligent Solutions Holding Inc. holds promise in its chart patterns and technical indicators, making it an interesting stock to watch. As with any investment, prudent risk management is advised, but the potential for exciting price movements in the coming sessions is certainly worth keeping an eye on. Personally, I don't know if I'll give this stock another look, but I'll try to keep the prices update on my site, should it really start to get away from this chart. But overall, be careful, sell fast, and possibly try to enter a short position, it's a pretty nice setup, with limited but very real risk. Analysis does not take any fundamentals into account. I've never heard of this company before. Nick Yolo to the Moon
NASDAQ:CCCS
by nicktussing77
What is a REIT and how do they work?A. Let’s start with the basics: REITs stands for 'Real Estate Investment Trusts'. These are essentially property companies that are listed on the stock market which you'll find pretty much most of them on TradingView. So how do they work? Step 1: An individual decides to invest in a REIT company. Step 2: The money is then collected into a large pool (like all trusts). Step 3: The pooled money is then invested into the property that the company either owns, operates or finances. Step 4: Over time the company starts to make revenue and profit. Step 5: The profits are then accounted and collected. Step 6: The profits are then distributed in parts to the initial investors who helped finance the company through a REIT. Sounds great in theory… But in reality, there is always a catch… And that catch is timing. The Big five SA Reits have lost over R100bn in value since 2018. The BIG five REITs are: 1. Growthpoint 2. Redefine 3. Resilient 4. Vukile and 5. Hyprop. Of course, this could be seen as an opportunity but there are several other factors we need to consider before deciding the best time to trade this type of asset. A trick will be to overlay the five companies on a chart. See how they move and operate in conjunction to each other. And then we can decide which are buys or sells. Apples with apples.
TVC:SA40Education
by Timonrosso
Why It Pays to be a Patient Trader – 10 PointsPatience, passion and persistence. The three Ps of what it takes to make it as a trader. We like to say 5% is action and 95% is waiting. And that’s why I’ve written a complete guide to being a patient trader. Let’s start… No Impulsive Decisions Impulsive decisions are the bane of any trader. The market is known to be volatile, jumpy, fickle and are prone to make sudden swings. These swings can cause panic, fear and can lead to really poor trading choices. If you have the patience to wait for your setup, the right market environment and for your trade to play out – you’ll stop the impulsive and emotional decisions. Wait for the right and conducive market conditions Many trading systems are designed to work optimally under certain market conditions. For trend, momentum, and breakout traders – we need to let the market move and continue to move in the directions. Patient traders will need to continue taking their trades, when the system lines up. And only when the environment is right, will they make money. That’s why you need to learn to risk little with the losses. And when the winners kick in, they’ll make up for the dips and will help your portfolio flourish eventually. Spot only the high and medium probability trades Don’t be a rash trader. When you jump with every opportunity you can. There are low, medium and high probability setups. Wait for only the high and medium probability trades. Skip the low probability trades that align or risk very little (0.5%). Only trade those that align with your system’s strength and exhibit strong, favourable signals. This will help boost your win rate and drop the chances of loss. Hold onto winners To grow your portfolio, you need to let your winners run. Let the great trades, run their course. Many traders, especially beginners, often exit winning trades too soon due to fear of a reversal. They also exit quickly as they don’t want to take the trade to turn into a loss. And as a result, they bank a measly gain. A patient trader understands that great profits are made when you ride the big trends. This will require you to resist the urge to close a winning position prematurely. Wait it out A trader must sometimes wait: Wait for a setup to come to fruition. Wait for the trade to play out. Wait for unfavourable trading periods to end. Emotional stability While you’re being patient. Cut out the emotions. That feeling of ants in your pants. Rather learn to maintain emotional stability, and avoid the emotional highs and lows. Your trading should not feel like an emotional rollercoaster. Just do your job and treat it as a job. Not as the lottery. Not as a gamble. Not as a be all and end all situation. Don’t let anything cloud your judgement that can lead you to trading bad. Master your trading strategy Just because you have a trading strategy and gameplan. Does not mean, you know how it works over the long haul. A patient trader takes time to master their trading strategy. Back, forward and real test the strategy carefully. Trade them on different markets. See how they work taking into account the costs (brokerages, daily interest charges and even spreads). Know how the game-plan works in all different situations and environments until you are consistent and have a proven and tested methodical execution. Avoid overtrading Patience helps traders avoid overtrading. This is a common pitfall where too many positions are taken. You have to stop revenge trading (to make up for losses). You have to stop over trading (to try make more gains in a day). Stick to high probability trades, a careful selection of markets and the best times to trade. Learn from mistakes The main time you’ll actually learn, adapt and grow as a trader – is through your mistakes. When you make a mistake, do not sweep it under the rug. Take the time to write them down, screenshot them and jot down a memo to yourself about these mistakes. When you learn from them, it will prevent you from making them again and you’ll even be able to refine your strategy to avoid them. Develop discipline into integration Patience cultivates discipline. That is trading well every single day or week. Once you adapt into a routine and you have the discipline to act accordingly. Then you will enter into a lifestyle integration. You won’t think twice. You won’t need anything to motivate you to trade. You will just trade well like you brush your teeth, sleep or eat everyday. Once you have integration, there’ll be no need for motivation. Summary Patience in trading is a trader’s virtue. It is an essential strategy for you, if you wish to attain long-term success in the financial markets. Here are the key points we mentioned in this complete patience guide. No Impulsive Decisions Wait for the right and conducive market conditions Spot only the high and medium probability trades Hold onto winners Wait it out Emotional stability Master your trading strategy Avoid overtrading Learn from mistakes Develop discipline into integration
TVC:SA40Education
by Timonrosso
Become a Trading Machine – 11 Ways!If you want to trade well and consistently. You have to be more mechanically orientated. I’ll be literally quick and brief. Saying “literally” was unnecessary and made it longer. Sorry. Here are the pointers: 1. Stay committed 2. Cultivate patience 3. Avoid herd mentality 4. Be long-term oriented 5. Stop crying over losers 6. Review your performance 7. Stop celebrating winners 8. Adapt to market conditions 9. Keep your emotions in check 10. Don’t think of quick success 11. Adapt and advance with technology Are there any ways you take to be a trading machine? Let me know!
TVC:SA40Education
by Timonrosso
PUT TO BED: Trading VS GamblingIt’s a big debate that runs the financial market. Is trading gambling? Well I’m going to try put it to bed in just a few sentences. There are two types of gambling. Gambling by chance and total randomness like slot machines, lotteries, Bingo, Wheel of Fortune and flipping coins. And strategic gambling which allows you elements of control of coming out with a probabilistic chance of winning. I believe trading is a form of strategic gambling. Let’s talk about the similarities between certain strategic gambling games and see how we can learn from them with trading. Game #1: Trading and Poker: Skill, Strategy, and a Bit of Luck In poker, each player gets a unique hand of cards. To win, players must devise a strategy based on their understanding of the game, their observation of their opponents, and their willingness to take risks. Players can choose to play, bet or fold. The same principles apply to trading. Traders have their ‘hand’ in the form of markets to choose to trade. To yield profit, they must understand market trends, observe competitors’ behaviours, and manage risks. In poker, one needs to know when to fold and when to bet aggressively. In trading we have stop losses to get us out of the trade. We have take profits to bank our wins. We have volume choices of how much to buy or sell. And we have the choice to stay out completely. Poker also teaches the importance of emotional control and patience, which are crucial in trading, where emotional decisions can lead to significant losses. Game #2: Trading and Roulette: Understanding Probabilities Roulette is largely a game of chance where players bet on numbers, colours, or sets of numbers. You choose whether you want to bet on red, black, even, odd, specific numbers and so on… Although the outcomes are random, players can use probability to guide their decisions. In trading, while certain market movements can’t be predicted with absolute certainty, we rely heavily on technical, fundamental, statistical analysis and probabilities to make trading decisions. Trading, much like roulette, is where you need to diversify your positions and bets. But instead of placing chips on certain numbers, we place deposits (margins) in the hopes of a probable outcome. Game #3: Trading and Blackjack: Playing Against the Market (House) Blackjack involves strategic decisions, where players decide to ‘hit’ or ‘stand’ based on their current hand and the dealer’s visible card. The main goal is to try and get the cards we’re dealt to hit 21, be close to 21 or be closer to 21 than our opponent’s hand. Bet too high past 21 and you burn. In trading, technical analysis serves a similar purpose by predicting future market movements based on past data. Bet too high with trading and you stand to lose a lot more. And if you can’t count with Black Jack, then you have a much bigger disadvantage to the game. If you don’t have strong and stringent money management principles, then good luck trying to maintain, preserve and protect your portfolio. Game #4: Trading and Horse Racing: Know your horse! Horse racing involves choosing the right horse based on its: Form Characteristics Conditions of the race Weather on the day and other factors. This is like trading. You need to understand each market you trade. It has its own personality, form, movements, and style. You also need to know which market is conducive for your trading portfolio. And you need to choose the right stock or asset to trade based on its performance history, current market conditions, and other factors. In horse racing, experienced bettors also diversify their bets across multiple races and horses to spread risk. With trading we diversify our portfolios over different accounts, markets, sectors, instruments and types. Game #5: Trading and Sports Betting: Predictive Analysis and Risk Sports betting also works similar to trading. You need to know how to analyse a team’s or player’s form, weather conditions, home and away records, and more to predict an outcome. Whether it’s football, rugby or cricket – you need to know your team players, strategy and likelihood of who is to win what game. Traders also conduct similar analyses, studying companies’ financial health, market trends, and technical indicators to predict market movements. And as always, there are both risks that need to be calculated and managed for high probability successful outcomes. So next time when someone tells you trading is just gambling. You tell them, they are right but it’s strategic gambling rather than gambling by chance.
TVC:SA40Education
by Timonrosso
The Mind of an Ego Trader – 10 ActionsWe always hear of the two most dangerous states of trading. Fear and greed. But I think there is one more state, that really drives a trader to financial collapse. EGO. Ego is thinking you’re always right where you ignore risk and caution. It’s the voice in your head that tells you to make risky choices because you believe you know better. To overcome being an ego trader, we need to go inside the mind of one. Let’s start… Ego traders overtrade One of the most common pitfalls of ego trading is overtrading. This is the act of buying and selling markets way more than you should. They believe that the more they trade, the more profits they will make. Solution: Adopt a well-defined trading strategy and stick to it. You need to know how and where to enter your trades with strict risk management. Remember, quality should always be prioritized over quantity. Ego traders like to revenge Trade Ego traders refuse to be wrong. They’ll take a trade in one direction, bank a loss. And then immediately get in again, but in the opposite direction – to make up for losses. Their goal is not to trade well but to recoup any losses ASAP. This behaviour is often driven by the ego’s inability to accept a loss. And this will drive them crazy until they blow a big portion of their account. Solution: Acceptance is key. Every trader is going to take losses. You need to take the loss (see it as the cost of trading), and come back the next day. Take a step back, analyse the situation objectively, and stick to your trading plan. Ego traders ignore risk management Egotistical traders think like this. “I want to grow rich quickly and refuse to only bank 3% to 4% of my portfolio per trade”. They instead risk 5%, 10% and sometimes go full port. They have this invincibility complex, that the more money they risk the more likely they’ll build their account quickly. But this is reckless and your portfolio won’t last long. This will often lead to disproportionate losses. Solution: I sound like a parrot by now. Always adhere to your risk management rules. Determine your risk tolerance, set risk-reward ratios for your trades, and never risk more than you’re willing to lose on a single trade. You know this! Dismiss Market Analysis Ego traders are emotional. They mainly trust their feelings, their jiminy cricket voices and their instincts over solid and proven market analysis. This will obviously lead to discretionary trading decisions, which will eventually lead them with no strategy, no discipline, no rules, and no portfolio. Solution: Become a trading machine. Think like a robot and always base your decisions on thorough market analysis. This includes both technical analysis (price trends, indicators, etc.) and fundamental analysis (economic, financial, and other qualitative and quantitative factors). Ego traders blame everything Ego traders often blame the market, their broker, their children, the media, or unexpected news for their losses. You need to grow up and take on the mature approach. Every financial decision and action you make, is solely your responsibility. Solution: Take responsibility for your actions. Understand that the market is unpredictable and losses are a part of trading. Don’t trade if you’re feeling distracted, Don’t trade if you’re feeling you’ll blame something or someone. Learn from your mistakes and learn to humble yourself before the market does. Ego trader are trend top and bottom pickers These are the guys that literally try to ‘predict’ bottoms or tops. They go against the current trend, and instead guess that the price will turn from here. They give you every reason why the market will turn. They know privy info that no one else does (even though all info is in the public domain). They know strategies and indicators that make these predictions (even though all indicators are based on past data). They see and feel out of their asses about change in trends. And when they’re wrong (which most times they are), they find every reason, news event and indicator to guess when the market will turn. This usually results in entering at a bad price and subsequently facing a huge loss. Solution: Leave the tops and bottoms. Seriously, ignore the first 10% of the bottom. Leave 10% of the top. Claim the 80% market move when the trend has confirmed and is showing strong momentum. Enjoy going with the trend not against it. Ego traders over leverage It confounds me that traders want more leverage. They show off about 20 times, 50 times up to 500 times. You know what that means right? You can lose 20, 50 or 500 times the money you put in. Leverage is a double-edged sword. You desire the big wins and only think of the big wins. When then you are wrong (and you will be), you end up losing a colossal amount. Solution: Use leverage responsibly. Lower the leverage, the better you can manage your risk and reward management. Ego traders disregard stop losses Stop losses are designed to limit a trader’s loss on a position. However, there are two types of ego traders. The ones that trade naked (without a stop loss) and the trade goes heavily against them where they lose their hat. Then there are the ones that put in their stop loss. But then they move their stop loss FURTHER away where they can risk more. Once this happens, they marry into their trade. And they’ll keep moving the stop loss away again and again and again and then BOOK. Gone. Solution: First rule – Always set a stop loss. Second rule – NEVER move your stop loss where you can risk more. Super important. Ego traders dismiss discipline They have major commitment issues. They choose their days and times. They trade now and then when they feel like it. And this dismisses the discipline of taking every trade, one needs to take to build a consistent portfolio. Solution: See trading as a business. See trading as a job. See your trading strategy as your boss. Work accordingly like your life and livelihood depends on it. Discipline is key in trading. Maintain your discipline and eventually it’ll turn into integration. Then you’re sorted. Ego traders fail to adapt The market is constantly changing. There are always new markets. There are always new platforms. There are always new brokers. There are always new innovations and features. And yet ego traders, stay put. You need to learn to adapt to market changes. You need to constantly update yourself as a trader, your strategy, your watchlist and stay with the times. With discipline, a clear plan, and a bit of humility, traders can better navigate the markets and improve their chances of success. Let’s sum up the Mind of an Ego trader so you know how to overcome it. Ego traders overtrade Ego traders like to revenge Trade Ego traders ignore risk management Dismiss Market Analysis Ego traders blame everything Ego trader are trend top and bottom pickers Ego traders over leverage Ego traders disregard stop losses Ego traders dismiss discipline Ego traders fail to adapt
TVC:SA40Education
by Timonrosso
20 Trading Checklist in 2024In just two months, we are coming to the end of 2023. If it's been a year of learning to trade and getting to grips with everything. Then I have a 20 Trading Checklist for you to kickstart 2024. Print it, save it and repeat this whenever you need a Jimney Cricket by your trading side. You go this! Love what you do Trust the process Never miss a trade Don't fall for scams Ask trading questions Don't allow distractions RE-evaluate your watchlist YOU CAN ONLY GET BETTER Celebrate taking each trade Never extend your stop loss Stop overthinking everything Save 15 minutes a day to trade Boost your trading knowledge Screenshot every trading setup Find the best time that suits you Only follow your trading signals Journal and jot down every trade Follow your own trading time-line Accept when market trends change Deposit money to trade every month Let me know if this helps. T
TVC:SA40Education
by Timonrosso
Trading Commandments: The Decalogue for Success 📈🔟💼 In the world of trading, there are timeless principles that serve as guiding beacons for traders, both novice and seasoned. These commandments are the keys to unlocking success, managing risk, and navigating the financial markets. In this comprehensive guide, we unveil the "10 Trading Commandments," each accompanied by real-world examples to reinforce their importance. Join us on this journey to master the art of trading, enriched with practical insights and wisdom. The 10 Trading Commandments 1. Thou Shalt Know Thy Risk Tolerance 📊 Understanding your risk tolerance is fundamental. Your trading decisions should always align with your comfort level for potential losses. Risk-Averse Trader 2. Thou Shalt Have a Plan and Follow It 📝 A trading plan is your roadmap to success. It should encompass your goals, strategies, and risk management rules. The Disciplined Trader The Power of the Decalogue 3. Thou Shalt Diversify Thy Portfolio 🌐 4. Thou Shalt Continuously Educate Thyself 📚 5. Thou Shalt Embrace Risk Management 🛡 6. Thou Shalt Keep Emotions in Check 🧘 7. Thou Shalt Adapt to Changing Markets 🔄 8. Thou Shalt Not Chase Losses 🚫 9. Thou Shalt Master Patience 🕰 10. Thou Shalt Keep Records of Thy Trades 📖 The "10 Trading Commandments" are not mere guidelines; they are the foundation upon which successful traders build their careers. These principles, when consistently followed, enable traders to navigate the markets with confidence, wisdom, and resilience. Whether you're just starting your trading journey or are a seasoned pro, embracing these commandments can lead to a more prosperous and rewarding trading experience. 📈🔟💼 What do you want to learn in the next post?
OANDA:XAUUSDEducation
by UnitedSignals
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